Thoughts from the Market - Top Headlines

Hindalco Ind top gainer on the Sensex
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
Hindalco Industries is top gainer on the Sensex. At 12:33 pm, the share was quoting at Rs 170.90, up Rs 9.10, or 5.62%. It has touched an intraday high of Rs 173.70 and an intraday low of Rs 159.75. It was trading with volumes of 726,362 shares. Yesterday the share closed down 0.83% or Rs 1.35 at Rs 161.80.

Accumulate bank stocks: R Agarwal
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
Raamdeo Agrawal of Motilal Oswal Securities is of the view that one can accumulate bank stocks. If somebody is willing to see 1015% fluctuation from the current price, these are the opportunities to buy into HDFC Bank or ICICI Bank and these things have fallen 3040% from top. So the future for banking is very good.

12:55 PM (1 hour ago)
Edelweiss Capital shoots up smartly
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
At 12:12 pm, Edelweiss Capital was quoting at Rs 836, up Rs 99.25, or 13.47%. It has touched an intraday high of Rs 849 and an intraday low of Rs 710. It was trading with volumes of 360,981 shares, compared to its fiveday average of 91,721 shares, an increase of 293.56%. Yesterday the share closed up 1.42% or Rs 10.30 at Rs 736.75.

12:55 PM (1 hour ago)
Block deal in Suzlon Energy, stock down
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
At 12:04 pm, Suzlon Energy was quoting at Rs 224, down Rs 4.35, or 1.9%. It has touched an intraday high of Rs 228.35 and an intraday low of Rs 221.20. There was a block deal of 34 lakh Suzlon Energy shares on NSE at Rs 223 per share. It was trading with volumes of 1,496,688 shares.
   
12:55 PM (1 hour ago)
NALCO among major gainers
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
National Aluminium Company, NALCO is among major gainers on the Nifty. At 12:04 pm, the share was quoting at Rs 478.25, up Rs 16.15, or 3.49%. It has touched an intraday high of Rs 480.80 and an intraday low of Rs 459. It was trading with volumes of 316,069 shares. Yesterday the share closed down 5.55% or Rs 27.15 at Rs 462.10.       
   
12:55 PM (1 hour ago)
India Infoline slips on profit booking
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
At 11:50 am, India Infoline was quoting at Rs 814.10, down Rs 47.2, or 5.48%. It has touched an intraday high of Rs 883 and an intraday low of Rs 811. It was trading with volumes of 105,711 shares. Yesterday the share closed up 9.03% or Rs 71.30 at Rs 861.30.
   
12:55 PM (1 hour ago)
Gitanjali Gems acquires Modali Jewels; stock down
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
At 11:41 am, Gitanjali Gems was quoting at Rs 244.20, down Rs 8.15, or 3.23%. It has touched an intraday high of Rs 252.05 and an intraday low of Rs 243.45. The company has acquired 100% stake in Modali Jewels, reports CNBCTV18. Yesterday the share closed down 2.72% or Rs 7.05 at Rs 252.35.
   
12:55 PM (1 hour ago)
Bank of India has to consolidate: Bose
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
Technical Analyst, Rajat K Bose is of the view that Bank of India has to consolidate at current levels. Once it crosses the Rs 265 mark, one will see good move on the upside, otherwise it may fall below Rs 256.       
   
12:55 PM (1 hour ago)
Maruti would not have entered in deal like JLR: Khattar
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
Tata Motors has finally closed the deal with Ford USD 2.3 billion. As soon as the announcement was made, reactions from across the auto industry flowed in. Jagdish Khattar of Maruti Suzuki said that his company would not have entered in a deal like JLR
   
11:55 AM (2 hours ago)
Orbit Corporation continues to gain
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
At 11:36 am, Orbit Corporation was quoting at Rs 500.10, up Rs 37.20, or 8.04%. It has touched an intraday high of Rs 519.55 and an intr day low of Rs 452. It was trading with volumes of 422,473 shares, compared to its fiveday average of 194,458 shares, an increase of 117.26%.

11:55 AM (2 hours ago)
IDFCSSKI prefers HDFC Bank, Axis Bank over ICICI Bank
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
Pathik Gandotra of IDFC SSKI said bank stocks are unlikely to outperform till fears of interest rates hardening further exist. He added that they prefer private bands with no foreign exposure, no equity insurance subsidiaries like HDFC Bank, Axis Bank over ICICI Bank and that Reliance Capital may bounce back only if equity markets stabilize.
   
11:55 AM (2 hours ago)
KS Oils up on buying palm plantation
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
At 11:25 am, the share was quoting at Rs 65.50, up Rs 0.65, or 1%. It has touched an intraday high of Rs 66.85 and an intraday low of Rs 64.
   
11:55 AM (2 hours ago)
Aftek marches ahead
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
At 11:18 am, Aftek was quoting at Rs 44, up Rs 3.95, or 9.86%. It has touched an intraday high of Rs 44.90 and an intraday low of Rs 39. It was trading with volumes of 326,699 shares. Yesterday the share closed up 1.01% at Rs 40.05.
   
11:55 AM (2 hours ago)
Expect rally in Puravankara: Bose
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
Technical Analyst, Rajat K Bose feels that Puravankara may give a little bit of rally in the shortterm. DLF would have to sustain above Rs 656, which is about a couple of percentage points away from the current level. If it were to do so then expect some recovery, otherwise it's better to stay away from DLF, he added.

11:55 AM (2 hours ago)
Orbit can test Rs 540550: Bose
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
Technical Analyst, Rajat K Bose is of the view that if Orbit trades above Rs 460470 zone, then one will see move upto Rs 540550. The nearterm outlook is positive but the level between the Rs 550 and Rs 600 would be a supply zone for the stock.

11:55 AM (2 hours ago)
HUL, Tata Motors may move up on Nifty today: MF Global
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
Vineet Bhatnagar, MD of MF Global feels that HUL, Tata Motors could move up in the last 30 minutes of trade. He estimates that the Nifty could move up by 3035 points in the last thirty minutes. He thinks that Nifty may close above 4800.
   
11:55 AM (2 hours ago)
Will ask iron ore producers to cut prices: Comm Sec
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
The Commerce Secretary has said that they will ask iron ore producers to cut prices, reports Newswire 18. He added that raising iron ore export duty was the government\'s last resort.
   
11:55 AM (2 hours ago)
IndusInd Bank can test Rs 9395: Bose
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
Technical Analyst, Rajat K Bose is of the view that IndusInd Bank can test Rs 9395 in the short run, may be today if the market is positive. If Yes Bank doesn't get past Rs 200, then one will see going down to test Rs 185. It will test or consolidate between Rs 190180 before really crossing successfully the Rs 200 mark.

11:55 AM (2 hours ago)
Tata Motors may underperform in nearterm: Raamdeo Agrawal
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
Raamdeo Agrawal, Director and Cofounder of Motilal Oswal Securities says of the JLR deal, that the Tatas may find it tough to fund the deal and he expects the stock to underperform in the nerterm. On the other hand, he said the inflation situation is uncomfortable and would put pressure on growth.
   
11:55 AM (2 hours ago)
KPIT may touch Rs 9093: Bose
from Moneycontrol Top Headlines by Moneycontrol.com editor@moneycontrol.com
Technical Analyst, Rajat K Bose is of the view that if the markets supports then KPIT might hit around the level between Rs 9093, there would be some kind of supply. But if it overcomes that, then there will be a good move up to Rs 105.

Thoughts from the Market - Business

2:30 PM (1 minute ago)
UB ready to buyback Heineken stake
from rediff Business
"They have beer business in India, which has a conflict of interest as Kingfisher is the largest beer brand in the country. I am ready to buy back," Mallya said in Baramati while opening United Spirits' Baramati Four Seasons winery. Earlier in January, a consortium of Carlsberg and Heineken had acquired S & N for 7.5 billion pounds. S & N had 37.5 per cent stake in the UB Group. As per the takeover agreement, Heineken was supposed to continue to hold S & N's business in the UK.
   
2:30 PM (1 minute ago)
'Clean energy' revenue to touch $254 bn: Survey
from rediff Business
All the growth, it says, has meant that investment capital has poured into the sector with clean energy stocks easily outpacing the broader markets. The NASDAQ's 'Clean Edge' index was up 66.67 per cent last year, compared to just 3.53 per cent for the S & P 500 and 9.81 per cent for the NASDAQ Composite. Overall clean energy index returns particularly for wind and solar companies have fared even better.
   
2:30 PM (1 minute ago)
Pashmina shawl trade to be badly hit
from rediff Business
Kashmir's hand-woven Pashmina shawls, which are made of the warmest and the softest wool in the world, may soon become a rarity following the mass deaths of Ladakh's Changthangi goats caused by the recent heavy snowfall and damage of pastures as a result of the invasion of locusts.

1:30 PM (1 hour ago)
The threat of Board examinations
from rediff Business
In the coming decades, India will see an unprecedented diversity of job opportunities, reflecting the expanded basket of consumption in India and a more multi-faceted economy as a whole. Further, the needs and the priorities of society will undergo a fundamental change in the years to come, thereby making many new categories of jobs more attractive than the current more traditional ones
   
12:30 PM (2 hours ago)
Ratan Tata's M & A gamble falling into place
from rediff Business
Many in corporate India would be envious of the Tata Group's M & A strategy. Over the last eight years, the Tata Group had made 35 overseas acquisitions. The group has been able to make an impact in most of its acquisitions -- be that Tetley, which helped Tata Tea make a transition from a largely plantation company to a branded player with a global footprint, or Daewoo's commercial vehicles business, which has regained its lost ground.
   
12:30 PM (2 hours ago)
'We will supply engines for both brands'
from rediff Business
Just hours after returning to Mumbai, Ravi Kant, managing director, and C Ramakrishnan, CFO of Tata Motors addressed the press on a conference call. Excerpts from the call.
   
12:30 PM (2 hours ago)
Don't kill commodity derivatives
from rediff Business
The previous fiscal year proved to be quite a contrast in some ways. While the year started with the banning of a few commodity futures contracts from the national bourses, it ended with the allowing of FDI/FII investment in the commodities sector and the amendment of the archaic Forward Contracts Regulation Act. Proactive measures were also undertaken by the government to give autonomy to the Forward Markets Commission
   
11:30 AM (3 hours ago)
Are index funds and ETFs better options?
from rediff Business
With a steep fall in the markets since January this year, mutual funds have suffered heavily. Sample this: the year-to-date (January 1 to March 24) category average return from equity diversified mutual funds is down by 32.36 per cent, and index funds, including exchange traded funds (ETFs), have slipped by 26.41 per cent.
   
11:30 AM (3 hours ago)
Steep hike for regulators may attract more talent
from rediff Business
The Rs 200,000 plus perks hike for regulators proposed in the Sixth Pay Commission is likely to attract good talent. It would be sufficient incentive for both private sector executives and serving bureaucrats to join as watchdogs. The Commission has recommended that the remuneration of chairpersons of regulatory agencies like the Sebi, Irda, Trai, CERC as well as the Competition Commission of India be hiked to Rs 300,000 if they do not avail of perks like cars and housing.
   
11:30 AM (3 hours ago)
Pensioners angry at 2006 'divide'
from rediff Business
Those who retired prior to January 2006 will get only a 15 per cent hike. The commission's recommendations come into effect from January 2006. For instance, an officer who retired in the higher administrative grade-1 (equivalent to an additional secretary in the central government) prior to January
   
11:30 AM (3 hours ago)
Pay revision to swell tax coffers
from rediff Business
The pay hike proposed by the Sixth Central Pay Commission will boost income tax collections in the coming years despite the Rs 40,000 increase in the basic exemption limit for personal income tax announced in the Budget. The commission has proposed an effective salary hike of 28 per cent. The recommendations, if implemented in entirety, are likely to generate around Rs 6,000 crore tax revenue or around 20% of the immediate additional outgo of Rs 30,621 crore including arrears
   
11:30 AM (3 hours ago)
Pay hike: No direct impact on IITs, IIMs
from rediff Business
Faculty of top academic institutions like the Indian Institutes of Technology (IITs), the Indian Institutes of Management (IIMs), and central universities say the Sixth Pay Commission's recommendations do not have a direct bearing on their compensation levels. The new pay structure of assistant professors, associate professors and professors will be finalised by an internal committee of the Ministry of Human Resource Development, which would take a couple of months at least.
   
11:30 AM (3 hours ago)
Term plans to become cheaper
from rediff Business
To reduce the solvency margins on term products and make these products cheaper & popular, The Insurance Regulatory and Development Authority has decided to reduce the solvency margins on term products. Since the term insurance policies provide pure life cover with no maturity/survival benefits they haven't gained popularity with the customers. Insurers currently maintain a solvency margin of 150%. Solvency margin requirements are the prudential norms of capital requirements.
       
10:30 AM (4 hours ago)
Realty tops savings tool for Indian households
from rediff Business
The household sector's savings in physical assets increased by 16.12 per cent to Rs 5,17,837 crore (Rs 5.17 trillion) in 2006-07 compared to Rs 4,45,915 crore (Rs 4.45 trillion) in 2005-06. While savings in financial assets have gone up by 11.20 per cent to Rs 4,67,985 crore in 2006-07 compared with Rs 4,20,841 crore in 2005-06. This data shows that Indian households are increasingly opting for physical assets as instruments of savings rather than relying on financial tools.
   
10:30 AM (4 hours ago)
Trai may cap DTH channel prices
from rediff Business
Trai has announced that it may fix prices of pay channels on the direct-to-home (DTH) platform in line with the Rs 5 per channel cap on conditional access system (CAS) services in Delhi, Mumbai and Kolkata. This move will lower the fees but hit the income of broadcasters from DTH companies. However, new DTH entrants will benefit from the move as their cost of content will decrease. For the 2 existing DTH companies, Dish TV & Tata Sky, the current rates are likely to continue.

10:30 AM (4 hours ago)
Are product patents anti-consumer?
from rediff Business
There is no doubt that patients are the ultimate beneficiaries of pharmaceutical research and development. Thousands of public health needs go unmet each day simply because there is still a cure out there waiting to be found. Product patents serve as encouragement to innovation, providing impetus to both investors and innovators. It has been argued that by denying product patents, India will encourage domestic generic production and, therefore, access to medicines.
   
10:30 AM (4 hours ago)
More power to electricity commission
from rediff Business
It has the discretion to adjudicate disputes by itself or send it to an arbitrator. The use of 'and' posed such a difficulty for the Supreme Court in a recent case and it ruled that 'and' is an equivalent of 'or' in a clause in the Electricity Act and 'or' could mean 'and' in some cases. The judges traversed the English decisions and the Mimamsa principles in Sanskrit texts to harmonise provisions in the Electricity Act and the Arbitration & Conciliation Act.
   
10:30 AM (4 hours ago)
Fewer holidays, bigger challenge
from rediff Business
If you add to this 52 Saturdays and 52 Sundays every year, when government offices are closed, the total number of holidays a central government employee can enjoy is 171days. That is close to half the number of days in a year. This context has to be kept in mind before judging what may well turn out to be the Sixth Pay Commission's most controversial recommendation. To be sure, the Pay Commission does not favour a reduction in the number of earned or casual leave.
   
10:30 AM (4 hours ago)
Which stocks to buy, hold and sell
from rediff Business
The markets could correct a bit more. One should not get euphoric over the rise in the last couple of days. You still have to tread carefully and pick quality stocks with high growth rates in profit. I still maintain that you could look at buy small parts on days of large corrections in the index, says market expert Pranav Sanghavi.
   
4:30 AM (10 hours ago)
'Tata's JLR deal a sign of things to come'
from rediff Business
The takeover by Tata Motors of Land Rover and Jaguar in a $2.3-billion deal is a precursor of things to come and a sign of the times we are headed into, says Kam Rathee, President of Canada-India Business Council. "The river has started flowing upstream as India is now flexing its muscles. The economy of the world is turning on its head. India, once a business pariah is coming out to rule the roost," he says.
   
3:30 AM (11 hours ago)
Tata's awesome threesome
from rediff Business
While Ratan Tata looked into all the details, his handpicked team to make the acquisition of Jaguar and Land Rover possible comprised Tata Motors Managing Director Ravi Kant, the company's low profile CFO C Ramakrishnan (who recently replaced Praveen Kadle, now the boss of Tata Capital), and his merger and acquisition specialist Arunkumar Ramanlal Gandhi, executive director of Tata Sons and the man who also played an important role in getting the ambitious Corus deal through.

3:30 AM (11 hours ago)
Neo to reap Rs 70 crore from India-South Africa test series
from rediff Business
With Doordarshan opting out of the simultaneous coverage of the India-South Africa three-test match series, sports channel Neo Sports – the exclusive telecast rights holder for the series – hopes to rake in Rs 70 crore in advertising revenue. Neo Sports has eight on-air sponsors (two co-sponsors and six associate sponsors). Coca-Cola, Airtel, Hero Honda, Pidilite and Asian Paints are putting about Rs 26-28 crore, while the remaining amount will come from spot selling.

3:30 AM (11 hours ago)
Indians among top three brand conscious: Nielsen
from rediff Business
An improving economy and the rapid opening-up of the Indian market has given rise to a group of affluent consumers who are more than eager to adopt the latest fashion trends. According to the latest Nielsen Global Luxury Brands study, nearly 35 per cent Indians, who participated in the survey, confirmed buying luxury brands. This is the third highest percentage globally. Greece leads the pack with 46 per cent, followed by Hong Kong at 38 per cent.
   
3:30 AM (11 hours ago)
Tatas' eco-car project may get Thai go-ahead soon
from rediff Business
Tata Motors is likely to have one more achievement to cheer about as it gets into the new financial year, when Thailand's Board of Investment (BoI) approves the company's proposal to make an eco-car. A BoI official in Bangkok told Business Standard that the internal approval meeting, scheduled for April 2, 2008, was likely to give its nod to India's third largest passenger car maker to manufacture the eco-car.
   
3:30 AM (11 hours ago)
PSU pay panel for 50-60% revision
from rediff Business
Over 1.6 million employees working in the estimated 240 central public sector undertakings (PSUs) are likely to receive a 50 to 60 per cent salary increase, possibly with retrospective effect from January 2006. The second PSU pay revision committee, headed by former Supreme Court Justice M Jagannadha Rao, is in advanced stages of finalising its award due April-end and plans to submit its report to the government soon after.
   
Mar 26, 2008 (17 hours ago)
India Inc hails Tatas' JLR takeover
from rediff Business
The historic buyout of Ford Motor Co's global iconic brands Jaguar and Land Rover by Tata Motors for $2.3 billion has been hailed by domestic industry, including Tata's competitors in the sector.
   
Mar 26, 2008 (18 hours ago)
ICICI Bank rapped; asked to pay Rs 50,000 fine
from rediff Business
ICICI Bank has been directed by a consumer court to pay Rs 50,000 compensation to a customer and return his Indica car forcibly repossessed by its employees in violation of SC guidelines. The West Delhi District Consumer Forum president J P Sharma said: "The conduct of the bank in taking forcible possession of car without intervention of the civil court was illegal in view of what has been observed by the SC and the National Consumer Commission."
   
Mar 26, 2008 (18 hours ago)
In Coimbatore? Pay tax online by cards
from rediff Business
Later talking to reporters, Mayor R Venkatachalam said the new simplified system would be a boon to the people, as it worked 24-hours and they can pay taxes sitting in their homes. The corporation has tied up with ICICI Bank for the system and 1.85 per cent service tax would be charged for those paying by credit cards. On tax collection, Venkatachalam said the corporation has collected Rs 105 crore (Rs 1.05 billion), which was about 75 per cent of total taxes.
   
Mar 26, 2008 (18 hours ago)
Tatas: Biggest buyer of global entities
from rediff Business
For years, critics termed Tata's vehicle business as a millstone around the neck. But Group chairman Ratan Tata on Wednesday flattened their theory by taking the automobile venture to a new plane with the acquisition of British luxury brands Jaguar and Land Rover.
   
Mar 26, 2008 (19 hours ago)
Tatas to fund JLR deal through cash reserves, new debt
from rediff Business
"We will fund the deal through existing cash reserves and new debt facilities which will be raised at the company's level," Tata Motors spokesperson told PTI. He, however, declined to comment on the quantum of debt to be raised from the market to part finance the $2.3-billion requirement. Recently, Tata Motors had announced that its Board has approved raising of Rs 4,000 crore (about $1billion) from either overseas or domestic markets through issuance of securities.
   
Mar 26, 2008 (19 hours ago)
Raghu Menon takes over as Air India chief
from rediff Business
Raghu Menon, special secretary and financial advisor in the civil aviation ministry, has been appointed the chairman and managing director of Air India, ending weeks of speculation over the issue.The Appointments Committee of the Cabinet approved the name of Menon, a 1974 batch IAS officer of the Assam-Nagaland cadre, after a keen race for the top job in the National Aviation Company of India Limited (NACIL), which runs the merged national carrier.
   
Mar 26, 2008 (19 hours ago)
JLR employees welcome deal with Tatas
from rediff Business
Thousands of employees of Land Rover and Jaguar in the UK on Wednesday wholeheartedly welcomed the sale of the two British car marquees of American automobile giant Ford to India's Tata Motors.Roger Maddison, Unite National Officer for the automotive industry, said: "Today's deal is really good news for the UK automotive industry and the thousands of people who work for Land Rover Jaguar and its supply chain.
   
Mar 26, 2008 (19 hours ago)
Religare to buy UK firm Hichens for Rs 440 cr
from rediff Business
"We are in talks to acquire the 210 year old broking firm Hichens Harrison and have offered Rs 285 per share. At this price the deal value will be about $110 million or about Rs 440 crore," Group Chief Operating Officer Religare Enterprises Shachidra Nath told PTI. The deal would broaden the global distribution base of the company. Besides the acquisition would also add up to the bottomline of the firm, Nath added.
   
Mar 26, 2008 (19 hours ago)
Tata cars: From Rs 1 lakh to Rs 1 crore!
from rediff Business
Tata Motors on Wednesday became the world's only vehicle maker that offers a choice of cars ranging from Rs 1 lakh (Nano) to over Rs 1 crore following the acquisition of Ford's luxury car brand Jaguar, along with Land Rover.
   
Mar 26, 2008 (20 hours ago)
Rs 2.2-trillion plan for Mumbai makeover
from rediff Business
Mumbai's makeover plan has inched forward. The Rs 2.25 lakh crore plan for development of Mumbai Metropolitan Region is awaiting approval of the state government. The government will approve of this once the Mumbai Metropolitan Region Development Authority (MMRDA) okays it. The plan includes infrastructure such as road transport, Metro rail, skybus, Brimstowad storm water drainage project & water transport development. The plan covers entire Mumbai as well as Thane district.
   
Mar 26, 2008 (20 hours ago)
Sensex ends down 131 points, Tata Steel gains 4%
from rediff Business
The Sensex opened with a positive gap of 53 points at 16270. After the initial volatility the index advanced to a high of 16310 in early morning trades. The Sensex finally ended with a loss of 131 points at 16,087. The NSE Nifty slipped 49 points to end at 4,829. Hindustan Unilever, ICICI Bank, Bharti Airtel, Reliance Communications, Cipla, Ambuja Cements, DLF, Jaiprakash Associates and BHEL, SBI, NTPC and ONGC were major losers. Tata Steel, HDFC and ITC were major losers.
   
Mar 26, 2008 (21 hours ago)
FM blames US for foodgrain price rise
from rediff Business
Finance Minister P Chidambaram has blamed the US' biofuel policy of diverting food grains such as corn for producing bio-fuels for the spurt in food grain prices globally. He also said that lack of adequate regulations in the US sub-prime market has led to global financial uncertainties. He said the demand for staple food was on the rise, leading to higher prices, but diverting food for fuel had also contributed to increase in food prices. He called US' priorities lopsided.

Mar 26, 2008 (21 hours ago)
S & P launches 10 stock India index
from rediff Business
The 'S & P India 10 index' is designed to address this accessibility challenge. It offers investors liquidity and investability, and can also serve as a basis upon which to create investment products," Vice President of Portfolio Services for S & P Steven Goldin said.
   
Mar 26, 2008 (21 hours ago)
Meet the gold medalists from IIM-B
from rediff Business
All work and no play makes jack a dull boy. But IIM-B makes its students work hard and also play hard, making them all-rounders was the unanimous opinion expressed by its medalists for the year 2007-08.
   
Mar 26, 2008 (21 hours ago)
RIL to close petrol pumps: Govt in a fix
from rediff Business
Reliance plans to shut two-third of its 1,400 petrol pumps in the country by next month as it is unable to match the fuel price offered by state-run retailers, who get compensated by the government for selling fuel below the cost. Reliance and Essar make huge losses on selling petrol and diesel at prices higher than Indian Oil, Bharat Petroleum and Hindustan Petroleum. On an average, fuel at private outlets is costlier by Rs 4 to 5 a litre than the PSU pumps.
   
Mar 26, 2008 (21 hours ago)
ONGC, Hindujas may ink pact to dev oil, gas fields in Iran
from rediff Business
The ONGC-Hinduja combine would meet Iranian the authorities around mid-April to finalise 'participating agreement' for the development of Phase-12 of the giant South Pars gas field and South Azadegan oilfield, ONGC Chairman and Managing Director R S Sharma told reporters in New Delhi on Wednesday. The consortia was in Tehran earlier this month to do technical due diligence for the two fields but ended up being shown old data for the Phase-12 and no data of South Azadegan.
   
Mar 26, 2008 (23 hours ago)
FDI cap in DTH to go up to 74%
from rediff Business
Currently, we are planning to construct one animation centre in Pune. We have asked PwC to prepare a detailed report for the same; it should be ready in the next four months.
   
Mar 26, 2008 (23 hours ago)
Leeway for banks in loan recovery
from rediff Business
The Reserve Bank of India (RBI), in its second draft guidelines on banks' recovery agents, said, "If a customer has filed a complaint, the bank should not forward the case to recovery agents till it has disposed the complaint. However, in cases where the bank has appropriate proof that the borrower is making frivolous/vexatious complaints, it may continue with the recovery proceedings despite the pending complaint."
   
Mar 26, 2008 (23 hours ago)
ECB policy likely to be relaxed
from rediff Business
The government has initiated a comprehensive review of external commercial borrowings (ECB) policy. While the details are yet to be thrashed out, the government and the Reserve Bank of India are set to raise the ceiling for the current financial year from $22 billion to $28-30 billion. Sources said the move was prompted due to a breach in the existing ceiling.
   
Mar 26, 2008 (yesterday)
R-Power to spend Rs 3,000 cr to fuel Sasan project
from rediff Business
Reliance Power Limited, the flagship company of the Reliance Anil Dhirubhai Ambani Group (ADAG), plans to invest about Rs 2,500-3,000 crore (Rs 25-30 billion) over a period of three years, to develop three coal mines to fuel its Sasan Ultra Mega Power Project in Madhya Pradesh. Reliance Power currently has access to coal reserves of about one billion tonnes in India and abroad, including a coal mine in Indonesia, which it acquired recently.
   
Mar 26, 2008 (yesterday)
Maruti Swift DZire @ Rs 4.49 lakh
from rediff Business
"It has a special place in our product strategy. Millions of Indians own compact cars. With growing incomes and better lifestyle, many of them want to upgrade to a sedan. But on Wednesday, they are not able to find an entry level sedan that offers style, features and performance. The DZire offers all this, and at an attractive price," Maruti Suzuki India Managing Director S Nakanishi said.

Investorline Services

Teledata Informatics - Outcome of EGM [Digg] Posted: 26 Mar 2008 03:37 AM CDT Teledata Informatics Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 19, 2008, inter alia, have accorded the Board to create, offer, Issue and allot in one or more tranches to Qualified Institutional Buyers (as defined Under Chapter XIII A of DIP Guidelines, whether shareholders of the Com

Four Soft - Press Release [Digg] Posted: 26 Mar 2008 03:37 AM CDT Four Soft Ltd has informed that the Company has signed a contract with IAL group which is one of largest Shipping & Logistics companies in the sub-continent and has a strong presence in Asia with its own office network to implement Four Soft world class product "4S eTrans" to cater to IAL's better visibility, real time Information on the shipments,

Maruti Securities - Outcome of EGM [Digg] Posted: 26 Mar 2008 03:36 AM CDT Maruti Securities Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 18, 2008, inter alia, have accorded the Board to offer, issue and allot to the promoters and the others, as detailed below, 1,50,00,000 convertible warrants at an issue price of Rs 30/- per warrant convertible into equal n

Corporate News 26th March 2008 [Digg] Posted: 26 Mar 2008 03:35 AM CDT Vishal Retail Ltd - Updates Vishal Retail Limited has informed that: "We have opened two new Showrooms at:- (1) Fatehabad Road, Agra spread over an area of 33,282 Sq. Ft. (Approx.) on Wednesday, March 19, 2008, and (2) Pal Link Road, Jodhpur, Rajasthan spread over an area of 7,400 Sq. Ft (Approx.) on Wednesday, March 19, 2008.

Indian Markets on 24 March 2008 - Markets end with healthy g [Digg] Posted: 26 Mar 2008 03:34 AM CDT Markets end with healthy gains The markets opened on a strong note but witnessed some selling pressure during the day. However, they soon recovered to close on a healthy note. While the Sensex was up 294.57 points or 1.96% at 15,289.40, the Nifty was up 35.90 points or 0.78% to close at 4609.85.

Indian Markets on 25 March 2008 - Markets witness a runaway [Digg] Posted: 26 Mar 2008 03:33 AM CDT Markets witness a runaway rally Markets were in blast mode today. After opening with an upgap on the back of strong global cues, the main indices continued to move up and closed near the highs of the day. In the US, JP Morgan revised its bid for Bear Stearns from about $2 a share to $10 per share

Call for clarity on code patents [Digg] Posted: 26 Mar 2008 03:30 AM CDT The government is appealing against a High Court decision that granted Symbian a patent on a computer program. The ruling overturns a refusal by the UK Intellectual Property Office to give the mobile phone firm a patent. The case is being watched with interest because before now it was rarely possible to patent dedicated computer programs in Europe

Index Components - BSE TECk Index : List of Companies [Digg] Posted: 26 Mar 2008 03:28 AM CDT BSE TECk Index Constituents: List of Companies Composition revised from 19/11/2007 Name Sector Adlabs Films Ltd. Media & Publishing Aptech Ltd. IT Balaji Telefilms Ltd. Media & Publishing Bharti Airtel Ltd. Telecom Deccan Chronicle Holdings Ltd. Media & Publishing Dish TV India Ltd. Media & Publishing Entertainment Network (India) Ltd. Media

Index Components - BSE-Sectoral Index : List of Companies [Digg] Posted: 26 Mar 2008 03:27 AM CDT BSE-Sectoral Indices Constituents: List of companies Name Sector Amtek Auto Ltd. Auto Apollo Tyres Ltd. Auto Ashok Leyland Ltd. Auto Bajaj Auto Ltd. Auto Bharat Forge Ltd. Auto Cummins India Ltd. Auto Escorts Ltd. Auto Exide Industries Co. Ltd. Auto Hero Honda Motors Ltd. Auto Mahindra & Mahindra Ltd. Auto Maruti Suzuki...

Index Components - BSE Mid-Cap Index : List of Companies [Digg] Posted: 26 Mar 2008 03:26 AM CDT BSE Mid-Cap Constituents : List of companies 3I INFOTECH LIMITED.3M INDIA LTD. ABG SHIPYARD LIMITED.ADLABS FILMS LTD. ADVANTA INDIA LTD.AHLUWALIA CONTRACTS (INDIA) LTD. AIA ENGINEERING LIMITEDAKRUTI CITY LTD. ALFA LAVAL (INDIA) LTD. ALLAHABAD BANKALLCARGO GLOBAL LOGISTICS LTD.

Index Components - BSE Small-Cap Index : List of Companies [Digg] Posted: 26 Mar 2008 03:25 AM CDT BSE Small-Cap Index Constituents : List of companies Full Report here AARTI INDUSTRIES LTD.ABBOTT INDIA LTD. ABG INFRALOGISTICS LTDABHISHEK INDUSTRIES LTD.ACTION CONSTRUCTION EQUIPMENT LTD. ADHUNIK METALIKS LTD.ADOR WELDING LTD. ADVANI HOTELS & RESORTS (INDIA) LTD.AEGIS LOGISTICS LTD. AFTEK LTD.AGRO TECH FOODS LTD.

International Markets - Wall Street rejoices with strong gai [Digg] Posted: 26 Mar 2008 01:26 AM CDT Wall Street rejoices with strong gains It was a holiday shortened week for US Market for the week that ended on Thursday, 20 March, 2008. But the good news about the week was that all the indices posted healthy gains for the week though trading remained immensely volatile.

International Markets - Asian Markets rise further, led by T [Digg] Posted: 26 Mar 2008 01:25 AM CDT Asian Markets rise further, led by Taiwan Index Most Asian markets advanced Monday, with Taiwanese shares rallying on China Airlines and financials such as Cathay Financial Holding Co., as investors hoped the weekend election result would lead to closer ties with China. exporters such as Nissan Motor Co. and Nintendo Co. were countered by declines

International Markets - Asian markets soar up as Hong Kong, [Digg] Posted: 26 Mar 2008 01:24 AM CDT Asian markets soar up as Hong Kong, Sydney takes a lead Asian markets mostly advanced Tuesday, with Hong Kong and Australian shares soaring as trading resumed in both markets after an extended holiday weekend. Japanese shares also advanced, as exporters such as Canon Inc.

International Markets - Bear Sterns news brings back smile i [Digg] Posted: 26 Mar 2008 01:24 AM CDT Bear Sterns news brings back smile in US Market Bear Sterns news and a better-than-expected report from the troubled housing sector helped US Market register comfortable gains today, Monday, 24 March, 2008. JP Morgan Chase lifted its offer to buy Bear Sterns at $10/share from its previous $2/share.

World Festivals

Links for 2008-03-25 [Digg] Posted: 26 Mar 2008 12:00 AM CDT Foreign Exchange : Forex and its strategies Forex and its strategies - Marco M Forex or FX, no matter how you may call it, it all refers to foreign exchange. Forex basically deals with buying and selling of currencies, or in other words currency trading that is made available at the ongoing price in market. It involves investing money in the foreign currencies and earning profit by selling Pay Commission to revise transport allowance The Sixth Pay Commission is set to announce a hike of up to 52% for Central government staff and officers, along with their counterparts in defence and paramilitary forces. The commission is also likely to revise the transport allowance (conveyance), which is a maximum of only Rs 800 in A1 cities now. ''Those driving to office in their own cars cou 40% hike in basic salary & rise in retirement age to 62 expe The Sixth Pay Commission's recommendations are expected to result in a hike of 30-40% in basic salary of central government employees in various categories. In the current fiscal, the outgo on account of pay and allowances for the government - with an employee strength of over 3 lakh - has been pegged at Rs 46,379 crore. Sources said the recommenda Pay panel report soon, Govt working on 20% hike As the Sixth Pay Commission prepares to submit its report on March 20, a fortnight before deadline, the Finance Ministry has started working its numbers considering an average 20% increase in salaries of Central government employees. The wage hike, after merging existing allowances with the basic salary, will range from 18 to 25% depending on the s Grand pay hike for Govt employees on the cards The government is well and truly in election mode. The Sixth Pay Commission has reportedly recommended hikes of up to 33 per cent in the salaries of Central Government employees and, as announced in the Budget, the report will be out within the next three weeks. The wait is almost over for the Government of India employees. CNN-IBN has learnt that New Pension Scheme (NPS) is out of the terms of reference fo And if the provision for railway employees is an indication (Rs 5,000 crore for 14 lakh em-ployees), government employees may be in for a 20%-25% hike. In the current fiscal, the outgo on account of pay and allowances for the government is being estimated at Rs 46,379 crore. However, if one factors in the arrears and pensions with retrospective eff Bureaucrats may get stints in India Inc Pay panel likely to suggest institutionalising this practice. Bureaucrats may be allowed to serve significant stints outside of government in private sector companies to allow mid-career officers to pick up new skills and build a nest-egg as a bonus. Government officials suggest the Sixth Pay Commission is likely to recommend that this practice be Sell PSUs to meet Sixth Pay Commission implementation cost? Finance minister P Chidambaram proposes to meet rising wage cost of government employees after the Sixth Pay Commission from the proceeds of disinvestment in state-run companies. There is great scope for stake sales in public sector companies, the finance minister said, adding that the central budget had factored in possible wage increases for gove Upto 35% Wage increase expected in Sixth Pay Commission, CNB CNBC Awaaz reported recently that there may be an increase of 30 - 35 % in wages of employees in Sixth Pay Commission. If this happens, it will be a great news for the middle class in India. Main tax payers in the country are salaried employees. So giving benefit to a common man will help the Congress government to get more votes in upcoming electi Sixth Pay Commission Report : What will employees get on Apr The government has declared that the Sixth Pay Commission would submit its report by April 4, 2008. In a written reply to the Rajya Sabha, Mr. P K Bansal, the Minister of State for Finance said, "The Commission is to finalise and submit its report within 18 months of its constitution, that is 4th April, 2008." About effectuation of the Pay Commissi US Economy Review - How worse is it and to what extent it ca Is it a 'recession'? Whether the country is officially in recession is determined by the National Bureau of Economic Research, a private nonprofit research organization. The group considers several economic indicators, as well as the severity and duration of a downturn. The NBER says the most recent recession lasted from March 2001 until November 2 Global Oil Valuations - Why Oil Is Overpriced Even after plunging from a record high, crude prices are out of touch with reality and could drop well below $100 a barrel before year end. - By Steven Goldberg Speculation in commodities seems out of control. In the not-too-distant-future, investors will discover that oil prices -- like the prices of everything else -- go down as well as up. A cen Bear Stearns & JP Morgan Deal - Where does the Fed get $30 B Where does the Fed get $30 Billion to lend - easy when it owns the printing presses OE NOCERA, Business Columnist, New York Times: It's like something seizes up; that's really the best way to describe it. There was panic among its counterparties, the people they traded with, that they wouldn't have the money to pay them back. So people, gradually f Life may never be the same for investors A few friends would cease to be friends. Invitations for rave parties would stop. And some will prefer moving into smaller homes. Exotic holidays or a second car will have to wait for better days. The near 30% fall in the market, erasing about two years of investments of an average investor, in plain 47 trading sessions will change the lives of man India Prospects - A 10 years of high growth rate is achievab Dispelling doubts about the sustainability of the country's economic performance, finance minister P Chidambaram has said India's growth story is here to stay. Stepping up public and private investment, protecting price lines, ensuring smooth delivery of goods & services Market Review - Most indices fall with Sensex Most indices fall with Sensex With a fall of close to thousand points on Monday, the Sensex has gone right back (14,842) to where it was on August 27 last year. During this seven-month roller-coaster ride, many indices have risen to new highs, only to fall all the way back to their earlier levels. US slowdown may affect India's growth rate: UNDP The slowdown in the US economy could affect the growth rate of India, a top official of the United Nations Development Programme said here on Tuesday. "India achieved eight per cent plus growth rate over the last three years, when the global economy was doing well," Kemal Dervis, Administrator of UNDP, told a press conference. Bear Stearns sold to JP Morgan - $240 million buyout Bear Stearns sold to JP Morgan NEW YORK: JPMorgan Chase & Co agreed to buy Bear Stearns for $240 million, about 90% less than its value last week, after a run on the company ended 85 years of independence for Wall Street's fifth-largest securities firm. Conquer Your Fear of Investing Afraid to start investing? Here are five tricks to help you succeed. - By Erin Burt - Kplinger Many of the most worthwhile things in life are scary at first. Consider, for example, going to school for the first time, falling in love, learning to drive, starting a family, figuring out your new Tivo... Investing is no exception. How young consumers could shape Vietnam's banks - McK This small but lively banking market encompasses the region's largest generation gap in attitudes toward banking. Nigel P. Andrade, Jens Lottner, and Christian Roland Young adults, 21 to 29 years old, will play a large role in shaping Vietnam's small but growing retail-banking market. Celebrity Mania Heather Mills fails to buy her daughter first-class tickets London : She has been awarded millions of pounds in royalties by Sir Paul McCartney, but Heather Mills failed to buy first-class ticket for her four-year-old daughter Beatrice. Married couples could soon be in the minority by 2031 Married parents could soon be in a minority, for a new report has suggested a 65 per cent increase in couples who live together but are not married. A report on family life by the Office for National Statistics (ONS) revealed that cohabiting is a rising trend in Britain, with 2.3 million, mostly young people, living together without being married. Here's why men like to marry women almost half their age Ever wondered why men like to marry women who are years younger them? Well, you can now give your mind a rest, for a study has found that men prefer young women due to their high fertility.

India Investments

How the Markets Moved - Last trading day: Wednesday, 26 March Posted: 26 Mar 2008 05:32 PM CDT 4:16 PM - It was a choppy but quiet day today. Weak global cues saw the market close in the negative. Sensex closed at 16086, down 130 points and Nifty at 4828, down 48 points from the previous close. The CNX Midcaps index was up 0.74% and BSE Smallcaps index was up 2.12%. The market breadth was positive with advances at 822 against declines of 414 on the NSE. Top NSE gainers included Tata Steel, PNB and HDFC while losers included Nalco, ICICI Bank and Bharti Airtel.  » Send to friends   4:10 PM - Reliance Capital is a heavily oversold stock and it has a price target of Rs...

Thoughts from the Market - Top Headlines Posted: 26 Mar 2008 05:31 PM CDT Tata Motors ties up $3 bn in bridge finance to fund JLR buy Tata Motors has bought Jaguar and Land Rover for USD 2.3 billion. The Tatas now own 100% in JLR, which is to be operated as Tata Motors\' subsidiaries.The company\'s management said it is raising bridge finance from a syndicate of banks.   Commerce Minister cheers TataJLR deal Commerce Minister Kamal Nath has applauded the Tatas for taking on the world yet again.   Tata Motors ties up $3 bn in bridge finance to fund JLR buy Tata Motors has bought Jaguar and Land Rover for USD 2.3 billion. The Tatas now own...

Thoughts from the Markets - Stocks - Week ending March 26th 2008 Posted: 26 Mar 2008 05:30 PM CDT 6:25 PM (7 hours ago) PNB among major gainers Punjab National Bank is among major gainers on the Nifty. At 3:06 pm, the share was quoting at Rs 524.35, up Rs 15.45, or 3.04%. It has touched an intraday high of Rs 532 and an intraday low of Rs 502.   India Infoline maintain its march ahead At 2:59 pm, India Infoline was quoting at Rs 847, up Rs 57, or 7.22%. It has touched an intraday high of Rs 869.40 and an intraday low of Rs 774.90. It was trading with volumes of 196,983 shares, compared to its fiveday average of 87,743 shares, an increase of 124.50%.   Tata Steel leads...

Thoughts from the Markets - Week ending March 26th 2008 Posted: 26 Mar 2008 05:29 PM CDT DSP ML Natural Resources extends NFO period DSPML Mutual Fund has extended the NFO period of DSPML Natural Resources New Energy Fund till March 31, 2008.   Canara Robeco Equity Tax Saver declares 30% dividend Canara Robeco Equity Tax Saver has announced a dividend of 30% for which the record date has been fixed as March 28, 2008.   Magnum Emerg. Businesses declares 25% dividend SBI Mutual Fund has announced a dividend of 25% in its Magnum Sector Fund Umbrella – Emerging Businesses Fund, for which the record date has been fixed as March 28, 2008.   UTI Nifty Index Fund...

Mutual Funds : NFOs (New Fund Offers) currently open – 26th March 2008 Posted: 26 Mar 2008 04:11 PM CDT Mutual Funds NFOs (New Fund Offers) currently open – 26th March 2008 Invest in Mutual Fund – Transact Online            Invest in Mutual Fund - Offline             Scheme Category Open Date Close Date Offer Price (Rs) Min Investment (Rs) Lotus India FMP 375 Days Series 8 Debt - FMP 14-Feb-08 27-Mar-08 10 5,000 Lotus ...

Links for 2008-03-25 [Digg] Posted: 26 Mar 2008 12:00 AM CDT Foreign Exchange : Forex and its strategies Forex and its strategies - Marco M Forex or FX, no matter how you may call it, it all refers to foreign exchange. Forex basically deals with buying and selling of currencies, or in other words currency trading that is made available at the ongoing price in market. It involves investing money in the foreign currencies and earning profit by selling Pay Commission to revise transport allowance The Sixth Pay Commission is set to announce a hike of up to 52% for Central government staff and officers, along with their counterparts in defence and paramilitary forces. The commission is also likely to revise the transport allowance (conveyance), which is a maximum of only Rs 800 in A1 cities now. ''Those driving to office in their own cars cou 40% hike in basic salary & rise in retirement age to 62 expe The Sixth Pay Commission's recommendations are expected to result in a hike of 30-40% in basic salary of central government employees in various categories. In the current fiscal, the outgo on account of pay and allowances for the government - with an employee strength of over 3 lakh - has been pegged at Rs 46,379 crore. Sources said the recommenda Pay panel report soon, Govt working on 20% hike As the Sixth Pay Commission prepares to submit its report on March 20, a fortnight before deadline, the Finance Ministry has started working its numbers considering an average 20% increase in salaries of Central government employees. The wage hike, after merging existing allowances with the basic salary, will range from 18 to 25% depending on the s Grand pay hike for Govt employees on the cards The government is well and truly in election mode. The Sixth Pay Commission has reportedly recommended hikes of up to 33 per cent in the salaries of Central Government employees and, as announced in the Budget, the report will be out within the next three weeks. The wait is almost over for the Government of India employees. CNN-IBN has learnt that New Pension Scheme (NPS) is out of the terms of reference fo And if the provision for railway employees is an indication (Rs 5,000 crore for 14 lakh em-ployees), government employees may be in for a 20%-25% hike. In the current fiscal, the outgo on account of pay and allowances for the government is being estimated at Rs 46,379 crore. However, if one factors in the arrears and pensions with retrospective eff Bureaucrats may get stints in India Inc Pay panel likely to suggest institutionalising this practice. Bureaucrats may be allowed to serve significant stints outside of government in private sector companies to allow mid-career officers to pick up new skills and build a nest-egg as a bonus. Government officials suggest the Sixth Pay Commission is likely to recommend that this practice be Sell PSUs to meet Sixth Pay Commission implementation cost? Finance minister P Chidambaram proposes to meet rising wage cost of government employees after the Sixth Pay Commission from the proceeds of disinvestment in state-run companies. There is great scope for stake sales in public sector companies, the finance minister said, adding that the central budget had factored in possible wage increases for gove Upto 35% Wage increase expected in Sixth Pay Commission, CNB CNBC Awaaz reported recently that there may be an increase of 30 - 35 % in wages of employees in Sixth Pay Commission. If this happens, it will be a great news for the middle class in India. Main tax payers in the country are salaried employees. So giving benefit to a common man will help the Congress government to get more votes in upcoming electi Sixth Pay Commission Report : What will employees get on Apr The government has declared that the Sixth Pay Commission would submit its report by April 4, 2008. In a written reply to the Rajya Sabha, Mr. P K Bansal, the Minister of State for Finance said, "The Commission is to finalise and submit its report within 18 months of its constitution, that is 4th April, 2008." About effectuation of the Pay Commissi US Economy Review - How worse is it and to what extent it ca Is it a 'recession'? Whether the country is officially in recession is determined by the National Bureau of Economic Research, a private nonprofit research organization. The group considers several economic indicators, as well as the severity and duration of a downturn. The NBER says the most recent recession lasted from March 2001 until November 2 Global Oil Valuations - Why Oil Is Overpriced Even after plunging from a record high, crude prices are out of touch with reality and could drop well below $100 a barrel before year end. - By Steven Goldberg Speculation in commodities seems out of control. In the not-too-distant-future, investors will discover that oil prices -- like the prices of everything else -- go down as well as up. A cen Bear Stearns & JP Morgan Deal - Where does the Fed get $30 B Where does the Fed get $30 Billion to lend - easy when it owns the printing presses OE NOCERA, Business Columnist, New York Times: It's like something seizes up; that's really the best way to describe it. There was panic among its counterparties, the people they traded with, that they wouldn't have the money to pay them back. So people, gradually f Life may never be the same for investors A few friends would cease to be friends. Invitations for rave parties would stop. And some will prefer moving into smaller homes. Exotic holidays or a second car will have to wait for better days. The near 30% fall in the market, erasing about two years of investments of an average investor, in plain 47 trading sessions will change the lives of man India Prospects - A 10 years of high growth rate is achievab Dispelling doubts about the sustainability of the country's economic performance, finance minister P Chidambaram has said India's growth story is here to stay. Stepping up public and private investment, protecting price lines, ensuring smooth delivery of goods & services Market Review - Most indices fall with Sensex Most indices fall with Sensex With a fall of close to thousand points on Monday, the Sensex has gone right back (14,842) to where it was on August 27 last year. During this seven-month roller-coaster ride, many indices have risen to new highs, only to fall all the way back to their earlier levels. US slowdown may affect India's growth rate: UNDP The slowdown in the US economy could affect the growth rate of India, a top official of the United Nations Development Programme said here on Tuesday. "India achieved eight per cent plus growth rate over the last three years, when the global economy was doing well," Kemal Dervis, Administrator of UNDP, told a press conference. Bear Stearns sold to JP Morgan - $240 million buyout Bear Stearns sold to JP Morgan NEW YORK: JPMorgan Chase & Co agreed to buy Bear Stearns for $240 million, about 90% less than its value last week, after a run on the company ended 85 years of independence for Wall Street's fifth-largest securities firm. Conquer Your Fear of Investing Afraid to start investing? Here are five tricks to help you succeed. - By Erin Burt - Kplinger Many of the most worthwhile things in life are scary at first. Consider, for example, going to school for the first time, falling in love, learning to drive, starting a family, figuring out your new Tivo... Investing is no exception. How young consumers could shape Vietnam's banks - McK This small but lively banking market encompasses the region's largest generation gap in attitudes toward banking. Nigel P. Andrade, Jens Lottner, and Christian Roland Young adults, 21 to 29 years old, will play a large role in shaping Vietnam's small but growing retail-banking market. Celebrity Mania Heather Mills fails to buy her daughter first-class tickets London : She has been awarded millions of pounds in royalties by Sir Paul McCartney, but Heather Mills failed to buy first-class ticket for her four-year-old daughter Beatrice. Married couples could soon be in the minority by 2031 Married parents could soon be in a minority, for a new report has suggested a 65 per cent increase in couples who live together but are not married. A report on family life by the Office for National Statistics (ONS) revealed that cohabiting is a rising trend in Britain, with 2.3 million, mostly young people, living together without being married. Here's why men like to marry women almost half their age Ever wondered why men like to marry women who are years younger them? Well, you can now give your mind a rest, for a study has found that men prefer young women due to their high fertility.

India Job Explorer

Links for 2008-03-25 [Digg] Posted: 26 Mar 2008 12:00 AM CDT Foreign Exchange : Forex and its strategies Forex and its strategies - Marco M Forex or FX, no matter how you may call it, it all refers to foreign exchange. Forex basically deals with buying and selling of currencies, or in other words currency trading that is made available at the ongoing price in market. It involves investing money in the foreign currencies and earning profit by selling Pay Commission to revise transport allowance The Sixth Pay Commission is set to announce a hike of up to 52% for Central government staff and officers, along with their counterparts in defence and paramilitary forces. The commission is also likely to revise the transport allowance (conveyance), which is a maximum of only Rs 800 in A1 cities now. ''Those driving to office in their own cars cou 40% hike in basic salary & rise in retirement age to 62 expe The Sixth Pay Commission's recommendations are expected to result in a hike of 30-40% in basic salary of central government employees in various categories. In the current fiscal, the outgo on account of pay and allowances for the government - with an employee strength of over 3 lakh - has been pegged at Rs 46,379 crore. Sources said the recommenda Pay panel report soon, Govt working on 20% hike As the Sixth Pay Commission prepares to submit its report on March 20, a fortnight before deadline, the Finance Ministry has started working its numbers considering an average 20% increase in salaries of Central government employees. The wage hike, after merging existing allowances with the basic salary, will range from 18 to 25% depending on the s Grand pay hike for Govt employees on the cards The government is well and truly in election mode. The Sixth Pay Commission has reportedly recommended hikes of up to 33 per cent in the salaries of Central Government employees and, as announced in the Budget, the report will be out within the next three weeks. The wait is almost over for the Government of India employees. CNN-IBN has learnt that New Pension Scheme (NPS) is out of the terms of reference fo And if the provision for railway employees is an indication (Rs 5,000 crore for 14 lakh em-ployees), government employees may be in for a 20%-25% hike. In the current fiscal, the outgo on account of pay and allowances for the government is being estimated at Rs 46,379 crore. However, if one factors in the arrears and pensions with retrospective eff Bureaucrats may get stints in India Inc Pay panel likely to suggest institutionalising this practice. Bureaucrats may be allowed to serve significant stints outside of government in private sector companies to allow mid-career officers to pick up new skills and build a nest-egg as a bonus. Government officials suggest the Sixth Pay Commission is likely to recommend that this practice be Sell PSUs to meet Sixth Pay Commission implementation cost? Finance minister P Chidambaram proposes to meet rising wage cost of government employees after the Sixth Pay Commission from the proceeds of disinvestment in state-run companies. There is great scope for stake sales in public sector companies, the finance minister said, adding that the central budget had factored in possible wage increases for gove Upto 35% Wage increase expected in Sixth Pay Commission, CNB CNBC Awaaz reported recently that there may be an increase of 30 - 35 % in wages of employees in Sixth Pay Commission. If this happens, it will be a great news for the middle class in India. Main tax payers in the country are salaried employees. So giving benefit to a common man will help the Congress government to get more votes in upcoming electi Sixth Pay Commission Report : What will employees get on Apr The government has declared that the Sixth Pay Commission would submit its report by April 4, 2008. In a written reply to the Rajya Sabha, Mr. P K Bansal, the Minister of State for Finance said, "The Commission is to finalise and submit its report within 18 months of its constitution, that is 4th April, 2008." About effectuation of the Pay Commissi US Economy Review - How worse is it and to what extent it ca Is it a 'recession'? Whether the country is officially in recession is determined by the National Bureau of Economic Research, a private nonprofit research organization. The group considers several economic indicators, as well as the severity and duration of a downturn. The NBER says the most recent recession lasted from March 2001 until November 2 Global Oil Valuations - Why Oil Is Overpriced Even after plunging from a record high, crude prices are out of touch with reality and could drop well below $100 a barrel before year end. - By Steven Goldberg Speculation in commodities seems out of control. In the not-too-distant-future, investors will discover that oil prices -- like the prices of everything else -- go down as well as up. A cen Bear Stearns & JP Morgan Deal - Where does the Fed get $30 B Where does the Fed get $30 Billion to lend - easy when it owns the printing presses OE NOCERA, Business Columnist, New York Times: It's like something seizes up; that's really the best way to describe it. There was panic among its counterparties, the people they traded with, that they wouldn't have the money to pay them back. So people, gradually f Life may never be the same for investors A few friends would cease to be friends. Invitations for rave parties would stop. And some will prefer moving into smaller homes. Exotic holidays or a second car will have to wait for better days. The near 30% fall in the market, erasing about two years of investments of an average investor, in plain 47 trading sessions will change the lives of man India Prospects - A 10 years of high growth rate is achievab Dispelling doubts about the sustainability of the country's economic performance, finance minister P Chidambaram has said India's growth story is here to stay. Stepping up public and private investment, protecting price lines, ensuring smooth delivery of goods & services Market Review - Most indices fall with Sensex Most indices fall with Sensex With a fall of close to thousand points on Monday, the Sensex has gone right back (14,842) to where it was on August 27 last year. During this seven-month roller-coaster ride, many indices have risen to new highs, only to fall all the way back to their earlier levels. US slowdown may affect India's growth rate: UNDP The slowdown in the US economy could affect the growth rate of India, a top official of the United Nations Development Programme said here on Tuesday. "India achieved eight per cent plus growth rate over the last three years, when the global economy was doing well," Kemal Dervis, Administrator of UNDP, told a press conference. Bear Stearns sold to JP Morgan - $240 million buyout Bear Stearns sold to JP Morgan NEW YORK: JPMorgan Chase & Co agreed to buy Bear Stearns for $240 million, about 90% less than its value last week, after a run on the company ended 85 years of independence for Wall Street's fifth-largest securities firm. Conquer Your Fear of Investing Afraid to start investing? Here are five tricks to help you succeed. - By Erin Burt - Kplinger Many of the most worthwhile things in life are scary at first. Consider, for example, going to school for the first time, falling in love, learning to drive, starting a family, figuring out your new Tivo... Investing is no exception. How young consumers could shape Vietnam's banks - McK This small but lively banking market encompasses the region's largest generation gap in attitudes toward banking. Nigel P. Andrade, Jens Lottner, and Christian Roland Young adults, 21 to 29 years old, will play a large role in shaping Vietnam's small but growing retail-banking market. Celebrity Mania Heather Mills fails to buy her daughter first-class tickets London : She has been awarded millions of pounds in royalties by Sir Paul McCartney, but Heather Mills failed to buy first-class ticket for her four-year-old daughter Beatrice. Married couples could soon be in the minority by 2031 Married parents could soon be in a minority, for a new report has suggested a 65 per cent increase in couples who live together but are not married. A report on family life by the Office for National Statistics (ONS) revealed that cohabiting is a rising trend in Britain, with 2.3 million, mostly young people, living together without being married. Here's why men like to marry women almost half their age Ever wondered why men like to marry women who are years younger them? Well, you can now give your mind a rest, for a study has found that men prefer young women due to their high fertility.

Thoughts from the Market - Top Headlines

Tata Motors ties up $3 bn in bridge finance to fund JLR buy

Tata Motors has bought Jaguar and Land Rover for USD 2.3 billion. The Tatas now own 100% in JLR, which is to be operated as Tata Motors\' subsidiaries.The company\'s management said it is raising bridge finance from a syndicate of banks.

 

Commerce Minister cheers TataJLR deal

Commerce Minister Kamal Nath has applauded the Tatas for taking on the world yet again.

 

Tata Motors ties up $3 bn in bridge finance to fund JLR buy

Tata Motors has bought Jaguar and Land Rover for USD 2.3 billion. The Tatas now own 100% in JLR, which is to be operated as Tata Motors\' subsidiaries.The company\'s management said it is raising bridge finance from a syndicate of banks.

 

Ownership still with Ford till contract ends: JLR

Don Hume, Director Corporate Government Affairs, JaguarLand Rover said the ownership of JaguarLand Rover would be transferred to Tata once the deal is completed. He told CNBCTV18 that Ford would remain a very close associate, in terms of supplying a number of components and other support activities.

 

Ind cheers Tata MotorsJLR deal but differ on road ahead

The Tata Group has conquered another bit of the empire. Tata Motors is now the proud owners of the iconic Jaguar, and Land Rover brands. In an all cash deal, Tata Motors will buy the British marquee brands for USD 2.3billion. Ford will contribute 600 million dollars towards the pension plans.

 

Fund raised to be used for capex: Kiri Dyes Chem

The Ahmedabadbased Kiri Dyes and Chemicals (KDCL), manufacturer and exporters of dyes and dyes intermediates is open for subscription. Manish Kiri, MD of Kiri Dyes Chemicals says that the money raised will be used to fund capex for setting up a basic chemical facility for the manufacturing of sulphuric acid, Oleum and Chlorosulphonic acid.

 

Let JLR operate independently: Top Gear to Tatas

Paul Horrell, Consulting Editor, Top Gear has a view that Tatas are very strong financially but it doesn't have the required technological expertise to directly feed into the kind of things that Jaguar and Land Rover do.

 

Tatas to continue sorely needed investment process: Unite

Tata Motors has bought Jaguar and Land Rover for USD 2.3 billion. Ford said it would pay about USD 600 million towards the pension plan. Roger Madison, National Organiser, Unite told CNBCTV18 that they are happy with the pension plan. Madison added that the Tatas expect to employ more people.

 

Rupee, bonds end lower

The spot rupee ended lower at Rs 40.14 per USD as against its previous close of Rs 40.11. The widely traded 7.99%, 2017 paper closed lower at Rs 101.40 as against its previous close of Rs 101.68.

 

Tata Motors in agreement with Ford for purchase of JLR

Tata Motors announced that it has entered into a definitive agreement with the Ford Motor Company for the purchase of Jaguar Land Rover, comprising brands, plants and Intellectual Property Rights.

 

RBI Reference Rate for US $ Euro

The RBI's Reference Rate for the US dollar is Rs.40.12 and the Reference Rate for Euro is Rs.62.41 on March 25, 2008

 

Await listing of Titagarh Wagons: Keynote

Titagarh has opened for subscription with its IPO of 2.383 million Equity Shares of face value Rs 10 each. The issue will close on March 27, 2008. Keynote Capitals has recommended investors to await listing.

 

Data on ECB/FCCB for Nov, Dec 2007 Jan 2008

The RBI has released the data on External Commercial Borrowings and Foreign Currency Convertible Bonds, both Automatic Route and Approval Route, for the months of November 2007, December 2007 and January 2008.

 

IDBI reduces PLR by 50 bps from Apr 1: NW18

IDBI has reduced prime lending rate by 50 bps to 12.75% from April 1, reports CNBCTV18 quoting Newswire 18.

 

RBI releases 2nd draft of Guidelines on Recovery Agents

RBI releases second draft of Guidelines on Recovery Agents for Public Comments